Advanced Micro Devices Inc. plans to cut 1,100 jobs, 9% of its global staff, and slash the remaining employees' pay as the chipmaker hopes its third round of layoffs in a year can help it get through a brutal market for computer sales.

Intel's fourth-quarter profit plunged 90% but still met Wall Street's subdued expectations Thursday, as the chipmaker was hurt by wheezing PC sales that have crimped demand for microprocessors. Sales slumped 23%, in line with Intel's previous guidance.

Backed by a study that found pervasive discrimination against blacks in the ad industry, civil rights attorneys and activists launched an initiative Thursday that will use public pressure and possible litigation to bring about reform.

Bank of America Chief Executive and Chairman Kenneth Lewis is recommending that he and his top executives receive no bonuses for 2008, saying he expects the bank's final results to be below expectations, according to media reports citing an internal memo sent out Tuesday.

Retail gasoline prices tumbled Friday to the lowest level in nearly five years. And while crude futures rose, analysts believed it was a temporary pause in an extended, downward arc as the recession spreads.